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Volcker Rule Unity Is Implementation Aim of Regulator Group  

February 6, 2014

U.S. regulators implementing Volcker Rule curbs on banks’ trading have formed an interagency group to coordinate their efforts and reduce chances for companies to play for advantage by exploiting differences.

Top officials from the Federal Reserve, Federal Deposit Insurance Corp. and three other agencies outlined plans for the group in statements at a House Financial Services Committee hearing in Washington today. The regulators are testifying amid criticism from Republican committee members that the rule adopted Dec. 10 will stunt economic growth and job creation.

“This interagency group will be instrumental in coordinating the agencies’ interpretations and implementation of the final rule on an ongoing basis,” Securities and Exchange Commission Chairman Mary Jo White said in her remarks.

Read more: Bloomberg

 
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